Glenview Trust Co Makes New Investment in Booking Holdings Inc. $BKNG

Glenview Trust Co bought a new stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 16,400 shares of the business services provider’s stock, valued at approximately $2,923,000.

A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Booking in the second quarter worth $11,646,302,000. Deutsche Bank AG purchased a new stake in shares of Booking during the second quarter valued at approximately $1,691,186,000. Bank of New York Mellon Corp bought a new stake in shares of Booking during the second quarter valued at approximately $1,370,455,000. Legal & General Group Plc purchased a new position in Booking in the 2nd quarter worth approximately $992,026,000. Finally, Bank of America Corp DE purchased a new stake in Booking during the 2nd quarter valued at $770,673,000. 92.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

BKNG has been the topic of several recent analyst reports. Robert W. Baird set a $230.00 price objective on Booking in a research report on Wednesday, August 5th. BTIG Research restated a “buy” rating and set a $250.00 target price on shares of Booking in a research note on Thursday. The Goldman Sachs Group set a $215.00 price target on shares of Booking and gave the company a “neutral” rating in a report on Monday, July 20th. Argus lifted their price target on shares of Booking from $210.00 to $245.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, Bank of America reissued a “buy” rating and issued a $234.00 target price on shares of Booking in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $236.45.

Insider Buying and Selling

In other news, Director Vanessa Ames Wittman sold 1,125 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $192.00, for a total transaction of $216,000.00. Following the transaction, the director owned 16,508 shares of the company’s stock, valued at approximately $3,169,536. The trade was a 6.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ewout L. Steenbergen sold 20,000 shares of Booking stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $211.03, for a total transaction of $4,220,600.00. Following the transaction, the chief financial officer directly owned 59,794 shares of the company’s stock, valued at $12,618,327.82. The trade was a 25.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 77,550 shares of company stock worth $16,112,304 in the last 90 days. Company insiders own 0.17% of the company’s stock.

Booking Price Performance

NASDAQ:BKNG opened at $205.63 on Friday. The company has a market cap of $154.51 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 1.22 and a beta of 1.07. Booking Holdings Inc. has a 1 year low of $150.14 and a 1 year high of $226.10. The stock’s 50 day simple moving average is $192.18 and its two-hundred day simple moving average is $177.64.

Booking (NASDAQ:BKNG) last released its quarterly earnings results on Monday, August 3rd. The business services provider reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.11. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The company had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter in the prior year, the firm earned $55.40 earnings per share. Booking’s revenue was up 8.1% on a year-over-year basis. As a group, analysts anticipate that Booking Holdings Inc. will post 10.47 EPS for the current year.

Booking Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, September 11th. Booking’s dividend payout ratio (DPR) is presently 18.58%.

Booking Profile

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company’s businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.